(Provided by the Ministry of Strategy and Finance)

Nam-ki Hong “Necessary to control volatility in real estate, prices, and financial markets”… Re-emphasizes the introduction of fiscal rules

(Provided by the Ministry of Strategy and Finance)

Deputy Prime Minister and Minister of Strategy and Finance Hong Nam-ki, at the 58th Emergency Economy Central Countermeasures Headquarters meeting on the morning of the 28th, said, “Volatilities control is needed to stabilize the real estate market, price stability, and financial market volatility, which are the biggest issues facing the Korean economy. do,” he said.

Deputy Prime Minister Hong said at the plenary session that such management is inevitable given the recent recovery of daily life and the severe economic situation. He emphasized that “multi-layered efforts are needed to support small businesses who have suffered great difficulties due to the prolonged corona virus and to heal the scars of ‘K-shaped’ polarization.”

In addition, he added, “The next government should also focus on future-ready investment policies, such as the Korean version of the New Deal and net zero (zero carbon) policy, which will directly contribute to the improvement of the potential growth rate and future growth engines.”

The Ministry of Strategy and Finance also mentioned the economic achievements the government has achieved in the course of responding to COVID-19. Deputy Prime Minister Hong said, “Compared to other advanced countries, Korea was the fastest in terms of minimizing the economic impact of the corona virus and recovering the economy. The recovery was successful,” he said.

He continued, “We have supported as much as possible overcoming the crisis such as cash support and loss compensation to the low-income class, the self-employed, small business owners, and the vulnerable in employment. Reinforcement was tightly institutionalized,” he said.

He also emphasized that “it is true that national debt is inevitable in this process.” He emphasized that “it is urgent for a step-by-step recovery of daily life, orderly fiscal normalization and introduction of fiscal rules.”

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